Re: Wal-Mart credit card closed?

That just sucks, I wouldn't reapply just out of spite. Two months is not inactivity. Anything else going on in your credit file that could have spooked them? It sure looks like they are just using this as an excuse.

+1...it is a BS excuse Wally World is giving you. There is something else that has to be spooking them.

Re: Wal-Mart credit card closed?

I think when you post your question they way you do, you utlimately confuse other readers. Like myself for instance.....When you say, they just closed it out of the blue and I have no idea why.

I don't think readers should have to go back into your previous posts to perhaps decipher what really could of happened.

In one instance, you wrote that you charged 145 of a 150 credit line with Walmart, but then you paid it in full. Also, you mentioned you had a 30 day late with Walmart.

Another instance, you claimed Citifinancial has recently reported +90 day lates as of May 2012 with this happening 11 times -- according to a snipet of your credit profile you posted.

I understand you're rebuliding your credit and you've been successful in getting many collections removed and now "new" lates are appearing. Regardless of how you handled 1 creditor in the past, other creditors take into account your whole credit portfolio and can close you down or increase your interest based on a universal default -- meaning -- if you mess up with 1 creditor, it can create a domino affect.

Re: Wal-Mart credit card closed?

I think when you post your question they way you do, you utlimately confuse other readers. Like myself for instance.....When you say, they just closed it out of the blue and I have no idea why.

I don't think readers should have to go back into your previous posts to perhaps decipher what really could of happened.

In one instance, you wrote that you charged 145 of a 150 credit line with Walmart, but then you paid it in full. Also, you mentioned you had a 30 day late with Walmart.

Another instance, you claimed Citifinancial has recently reported +90 day lates as of May 2012 with this happening 11 times -- according to a snipet of your credit profile you posted.

I understand you're rebuliding your credit and you've been successful in getting many collections removed and now "new" lates are appearing. Regardless of how you handled 1 creditor in the past, other creditors take into account your whole credit portfolio and can close you down or increase your interest based on a universal default -- meaning -- if you mess up with 1 creditor, it can create a domino affect.

Goodluck on your continued journey of rebuilding!

Multiple late pays will definitely signal a creditor to pull the plug...particularly if one of those lates was with the creditor itself.

Re: Wal-Mart credit card closed?

Sorry to have caused confusion but the ninety day lasted are actually from one charge off that has been paid in full and had already damaged my credit report. I didn't think until reading the posts on this that they would close it because of other issues on my credit report especially since there is no evidence that they have done even a soft pull. I've spoken with 4 people who say they have closed it due to inactivity. My FICO (tu08) was 542 six months ago, why not cancel then? Why wait until I've actively been addressing my issues and penalize me for paying in full?

Additionally, I have a voicemail from someone at the corporate office for GE Money Bank and will be calling them this a.m. I will post my results, good or bad online.

Re: Wal-Mart credit card closed?

Thanks for seeking out the truth! I was getting a bit worried there. I have a Walmart and pay down my balance each month, leaving a small amount. I have had nothing but a good experience with this card I'm glad to see it was probably not an arbitrary move on their part.

Re: Wal-Mart credit card closed?

I spoke with a representative of the GE Corporate office who says they discontinued my account solely because of no activity. I asked what their criteria was and they said it varied by account. They reported there was no other reason and I do not see a soft or hard pull on anything showing they have reviewed my credit. I suppose if I could do things differently I would leave a small balance each month just so it shows activity.

Re: Wal-Mart credit card closed?

I am going to guess that there must have been a period of time (like a year or something) with no activity. Maybe you used it once or twice recently, but there must have been a long gap of you not using it at all. After the gap maybe you maxed it out. Closing your card if you were using it every month and paying in full for "inactivity" simply does not make sense. If you were using it all the time and you called the corporate number, they would have seen the charges every month and saw a lot of activity. I just don't get it. There is stuff you must be not telling us.

Re: Wal-Mart credit card closed?

AutumnC74 wrote:I spoke with a representative of the GE Corporate office who says they discontinued my account solely because of no activity. I asked what their criteria was and they said it varied by account. They reported there was no other reason and I do not see a soft or hard pull on anything showing they have reviewed my credit. I suppose if I could do things differently I would leave a small balance each month just so it shows activity.

GE - can be finicky- but it is not just them, it is the respective companies they are providing financing for. Four years ago, when I first started rebuilding, I racked up on the GE cards, because they kept approving me: Lowes (had no reason for it), Chevron (haven't seen one of these gas stations in years), JCP, Walmart, Amazon, Paypal,. Lowes was closed within 6 months for inactivity. It was during the credit crunch, so I also received substantial CLDs on all but the Cheveron card, which only had $100 CL to begin with.

Interestingly, that Chevron card stayed opened for over three years, althoutgh I never used it. There were many times when I wanted to close my other GE cards, especially PayPal - after I was down to $160 CLI for a long time. Now, that account is at $3800 because GE is pretty generous with CLI - so long as the credit market is not bad, and you use the accounts and pay responsibly. I should also say that until Sunday, I had not used my JCP card in almost a year - and they gave me $2000 CLI on it a few months ago. Since then, I have been looking for a reason to use it. I do not want to loose that CL.

I suggest you get a couple of GE accounts. I rely on then heavily to keep my untilization low. I do not know if you want to apply for a Walmart now - or any other now, but at least consider it in 6 months or so. I have a couple of major credit cards now, but I really do credit GE with having played a MAJOR part in helping me rebuild and in giving me higher CL, which I do think has influence the CL I have been offered by other CC sompanies. GE were the only accounts I had with $3000 + CL - now all of my major CC (Barclay - Discover Closed Cap1 one yesterday.) aslo have a minimum of $3000, Don't give up on GE.

*Note to self* Remember why and for how long you had to rebuild in the first place! One Day at a Time, One Day at a Time!

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair
organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or
assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.